Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Applied Digital Corporation $APLD

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 13.3% in the 1st quarter, HoldingsChannel reports. The firm owned 646,051 shares of the company’s stock after acquiring an additional 75,964 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Applied Digital were worth $15,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Albion Financial Group UT purchased a new position in shares of Applied Digital during the 4th quarter valued at about $25,000. Activest Wealth Management purchased a new position in Applied Digital during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in Applied Digital in the fourth quarter valued at approximately $25,000. McMillan Office Inc. purchased a new position in shares of Applied Digital during the 4th quarter valued at approximately $25,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Applied Digital during the fourth quarter worth $27,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on APLD shares. Compass Point reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Applied Digital in a report on Friday, May 22nd. Lucid Cap Mkts upgraded Applied Digital to a “strong-buy” rating in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a report on Tuesday, July 21st. Zacks Research downgraded Applied Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, Roth Capital reissued a “buy” rating and issued a $65.00 price objective on shares of Applied Digital in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Trending Headlines about Applied Digital

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital reported fourth-quarter revenue of approximately $240.4 million to $258.7 million, substantially above analyst estimates near $96 million. Depending on the source’s reporting period and calculation, revenue increased roughly 581% year over year or more than quadrupled. Reuters article
• Positive Sentiment: The company reported non-GAAP earnings of $0.04 per share, beating the consensus estimate of a $0.09 per-share loss. The result reinforces the potential for improving profitability as Applied Digital scales its AI infrastructure operations. MarketBeat earnings report
• Positive Sentiment: Applied Digital said its HPC Hosting business began operations at the first HPC data center at its Polaris Forge 1 campus. The launch generated approximately $270.6 million in tenant fit-out services, highlighting strong customer demand and the potential for additional AI-related infrastructure revenue. Applied Digital Q2 results
• Positive Sentiment: Reports highlighted an approximately $20 billion backlog and robust demand from AI customers, including CoreWeave. The backlog improves visibility into future data-center development and hosting revenue, though execution and financing will determine how quickly it converts into sales. Stocktwits backlog report

Insiders Place Their Bets

In related news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the sale, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Stock Performance

APLD opened at $26.38 on Tuesday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -35.65 and a beta of 5.67. Applied Digital Corporation has a 52-week low of $9.79 and a 52-week high of $50.72. The firm’s fifty day simple moving average is $38.54 and its two-hundred day simple moving average is $34.54.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Monday, July 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.30). The company had revenue of $240.35 million during the quarter, compared to analyst estimates of $96.85 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The firm’s revenue for the quarter was up 406.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) EPS. Equities analysts anticipate that Applied Digital Corporation will post -0.7 earnings per share for the current fiscal year.

Applied Digital Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.